Tax Book 2023

Preliminary Chapter- 01

(c) sales tax levied on the services rendered or provided by the person under Islamabad Capital

Territory (Tax on Services) Ordinance, 2001.

(d) All of above

Q.21. ____ means the office or other place of business specified by the registered person in the application
made by him for registration under this Act or through any subsequent application to the
Commissioner Inland Revenue.
(a) head office
(b) registered office
(c) main office
(d) none of above

Q.22. 'registered person’ means a person who is ____.

(a) registered

(b) liable to be registered

(c) person having NTN

(d) both ‘a’ and ‘b’

Q.23. _____, with reference to the Third Schedule, means the price fixed by the manufacturer.

(a) retail price

(b) open market price

(c) fair price

(d) net price

Q.24. ____ means a person, supplying goods to general public for the purpose of consumption.

(a) manufacturer

(b) retailer

(c) defaulter

(d) none of above

Q.25. sales tax means—

(a) the tax, additional tax, or default surcharge levied under this Act;

(b) a fine, penalty or fee imposed or charged under this Act;

(c) any other sum payable under the provisions of this Act or the rules made there under; (

(d) all of above

Q.26. ____ means an account representing the double entry recording of sales tax transactions in the
books of account;
(a) sales tax account
(b) sales account
(c) purchases tax account
(d) none of above

Q.27. __, in relation to the open market price of goods, means any other supply of goods which closely
or substantially resembles the characteristics, quantity, components and materials of the
aforementioned goods;
(a) open market supply
(b) similar supply